Academic journal article Economics, Management and Financial Markets

Romanian Labor Resources under the New Europe 2020 Strategy

Academic journal article Economics, Management and Financial Markets

Romanian Labor Resources under the New Europe 2020 Strategy

Article excerpt

1. Introduction

The present sustainable socio-economic development is not possible without a scientific approach of the labor resources. There are a lot of papers regarding labor, training and education. These three connected elements are important not only for the macroeconomic evolution, but for the human welfare as well. As a result, an interesting approach was presented for representative European countries since 1994. Moreover, the book offered some pertinent forecasts for employment, education and labor market (Heijke, 1994).

Other specialists proposed a model in which the removal of barriers to trade and factor mobility is associated with endogenous fragmentation of the value-added chain. Fragmentation is the outcome of cost competition-the profit-maximizing choice of cost structure by monopolistically competitive firms (Burda and Dluhosch, 2002).

An interesting working paper examines the nature of impact of the economic and political challenges engendered by the "Great Recession" on labor market policy reforms in Europe. The paper started from the idea that the economic crisis has brought a labor market policy reform crisis in its wake. The analysis was focused on six EU member states (the Czech Republic, Denmark, France, Germany, Spain and the UK) and observed different response patterns depending on the interpretative framing - or 'narrative' - of the crisis (Ciasen et al, 2012). A distinct approach is that from the law point of view, which supports the idea that the global crisis represents the cause and argues for soft law (deregulation). The research is completed with individual country reports which analyze on a country-bycountry basis latest developments as regards national labor law reforms (Schömann and Clauwaert, 2012).

Nowadays, the European Institutes and leaders are focused on the Single European Labor Market and analyzes why, despite freedom of movement being one of the key principles of the EU, very few workers move from one country to another in Europe and what can be done to incentivize people's mobility (Dhéret, et al, 2013). The European labor, education and training policies have to be compatible with Europe 2020 Strategy (European Commission, 2010). This new strategy has targets connected to: employment rate, early leavers from education and training, tertiary educational attainment and people at risk of poverty or social exclusion.

2. Research Methodology

The impact of decreasing or low economic recovery on effective and potential human resources is very important. As a result, the paper proposes a comparative analysis between the above four indicators using a three steps algorithm.

The first step consists of a comparative analysis between the four indicators for EU28 and Romania until 2007 and during 2008-2012, in order to establish their trends. Moreover, the paper uses the European Commission's forecasts for 2013 and 2014.

The second step of the analysis is to calculate disparities in time and between Romania and EU28 for all four indicators using regression under ANOVA restrictions.

Last but not the least, we design a diagram which to be able to put together the EU28 and Romania human resources' evolution during 20002020. Moreover, this diagram was built in order to analyze four distinct points in time (2007, 2012, 2014 and 2020) and to calculate the disparities at those moments. The geometrical distance between the individual trends allows us to conclude the dimension and the evolution of the human resources' disparities related to the European Cohesion Policy's main objective. Figures should be high resolution with descriptive headings.

In order to make these forecasts, we will use SPSS 19 software, under ARIMA method, where the dependent variables are the above four indicators' growth rates for EU28 and Romania and the independent variables are the years.

3. Potential Labor Evolution in the European Education and Training System

According to Europe 2020 Strategy, 75% of the population aged 20-64 should be employed until 2020. …

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